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Economic Report: U.S. trade gap narrows in July, advance report shows

The trade gap narrowed to a seasonally adjusted $59.3 billion in July from $64.5 billion in June, the Commerce Department said Friday.

That was smaller than the $62.5 billion deficit forecast by economists surveyed by MarketWatch.

Exports rose by $2.9 billion during the month while imports shrank $2.4 billion.

Wholesale inventories were little changed during the month, rising 0.2%. They were 0.3% higher than a year ago. Retail inventories declined 0.4% during the month and were 4.2% higher than a year ago.

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